Weekly Wool Forwards for week ending 7th June 2019
Another solid week in the forwards market, with 21 micron being the main MPG dealt. One trade was dealt for 19 micron wool for August and agreed at 2,180¢. Four trades were dealt for 21 micron wool. One of those was for September at 2,080¢ and one for October at 2,050¢. Two trades were agreed for November at 2,050¢ and 2,075¢ respectively. Two trades were dealt for 28 micron wool and were agreed at 1,100¢ and 1,130¢ for August.
We’ve seen the gap between fine and medium wools tighten in recent weeks, probably due to a higher supply of finer wools as a result of drought. Looking further down the track, if the rains keep falling, we’re likely to see the gap between fine and medium wools broaden again.